Bear markets are the perfect time to buy assets at lower prices before the next bull market. That is why traders advise paying attention to Ethereum, which has reached its bottom and should rise again soon.
US inflation data is due in the next few days, and it is hoped that it will show that the rate of inflation has started to slow down. It may at least signal substantial improvements next year.
Assuming these improvements, ETH is in a better position than most cryptocurrencies. September’s Merge not only put it on a path to becoming more scalable and efficient but also (along with other updates) put it on a path to deflation.
Ethereum is already the biggest layer-one blockchain, accounting for around 57.5% of the entire DeFi sector. And now that it’s becoming a proof-of-stake network, it’s potentially on its way to increasing its dominance even more.
Also, the data shows that whales have already started hoarding Ethereum again. All of this suggests that now is probably the best time in recent memory to buy ETH. Use the Bemnex website to buy, sell or exchange ETH!